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Jito (JTO): Built on the Solana ecosystem, the Jito network is one of the major contributors through its JitoSOL liquid staking pool. JTO gives its users access to make decisions in the protocol to make sure the protocol evolves to stay updated as per the latest market sentiments, making it an important project on this protocol. Despite the JTO price displaying a negative trend over the weekend, the altcoin is predicted to gain significant attention from the market in the coming days as the price action of the price of Bitcoin highly influences it. #HotTrands #jito #BTC #Write2Earn

Jito (JTO):

Built on the Solana ecosystem, the Jito network is one of the major contributors through its JitoSOL liquid staking pool. JTO gives its users access to make decisions in the protocol to make sure the protocol evolves to stay updated as per the latest market sentiments, making it an important project on this protocol.

Despite the JTO price displaying a negative trend over the weekend, the altcoin is predicted to gain significant attention from the market in the coming days as the price action of the price of Bitcoin highly influences it.

#HotTrands #jito #BTC #Write2Earn

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Binance, KuCoin and 46 Other Crypto Entities Registered in India Aggarwal revealed that a total of 48 crypto entities are now registered as reporting entities under India’s Prevention of Money Laundering Act. The meeting with financial journalists was the first official interaction between the FIU and the crypto industry. It followed a prior meeting between Aggarwal and other FIU officials with representatives of all 48 entities. India’s stance on cryptocurrencies has been somewhat ambiguous. The imposition of strict crypto taxes in 2022 and the crypto market downturn led Indian traders to switch to international exchanges, negatively impacting the local crypto industry. Trading volumes shifted back to Indian exchanges after the ban on offshore entities, however. India has made it a priority to achieve global consensus on framing crypto policies as part of its G20 presidency in 2023. The country successfully obtained agreement from all G20 members on global guidelines. India faced criticism for pushing for global consensus without having its own legislation in place, however. The Indian government has kept a crypto bill on hold since 2021 and is expected to decide its position in the coming months. A senior lawmaker previously mentioned that the bill is unlikely to be introduced before mid-2025 #ETFvsBTC
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EIGEN Token to Become Transferable in Future The blog post further mentioned that the EIGEN token will become transferable once the development team implements new features in the upcoming months. The tentative target date for these implementations is set for September 30. It’s crucial for users to claim their tokens before the claim process closes on September 7, as any unclaimed tokens after that date will not be distributed. According to EigenLayer’s documentation, the EIGEN token is not available for users in over 30 jurisdictions, including the United States, Russia, China, and Canada. Additionally, most VPN server addresses are prohibited from being used for token claims. The current claims process has unlocked 6.05% of the total supply of EIGEN tokens, and an additional 0.7% will be unlocked in mid-June during “Phase 2.” At that time, users of applications such as Kelp, Pendle, Equilibrium, and similar apps will be eligible to claim their tokens. The ongoing airdrop primarily caters to users who restaked Ether or its liquid staking derivatives on EigenLayer before March 15. Users who hold liquid restaking tokens (LRTs) can also claim their rewards now, as long as their activities do not fall under “Phase 2.” Additionally, users who restaked on EigenLayer between March 15 and April 29 are eligible to claim 100 bonus tokens immediately, with the majority of their claims becoming available in mid-June alongside other Phase 2 participants. The EIGEN airdrop has sparked controversy within the decentralized finance (DeFi) community. Leandro Schlottchauer, co-founder of Kuyen Labs, stated that it might be one of the last “life-changing airdrops.” Conversely, many EigenLayer users have criticized the airdrop for its ban on VPN servers, the distribution of nontransferable tokens, and its perceived short snapshot period. LayerZero Labs to Exclude Sybil Farmers From Airdrop LayerZero Labs recently completed the first snapshot for its highly anticipated airdrop. #ETFvsBTC
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Crypto Exchanges Gain Credibility in India Vivek Aggarwal, the head of FIU-IND, said the approval marks a credibility shift for the cryptocurrency industry within the country. Aggarwal said that the unit plans to establish a working group in collaboration with the industry to review compliance guidelines related to anti-money laundering laws for virtual digital asset service providers. According to Aggarwal, the legitimacy and credibility of the industry lie in the hands of the parliament and the government as a whole He believes that safeguarding the Indian economy and preventing financial crimes can help businesses operating in the cryptocurrency sector gain more credibility and legitimacy within the system. KuCoin, the first crypto entity to pay the penalty amounting to $41,000, has already resumed its operations. On the other hand, Binance is yet to resume its operations as it is expected to settle its penalty after a hearing with the FIU. According to sources familiar with the matter cited by The Economic Times, Binance is likely to face a $2 million fine. Prior to its ban, Binance reportedly held a dominant market share, accounting for nearly 90% of the estimated $4b in cryptocurrency holdings amongst Indian citizens. Negotiations have commenced between the regulator and other sanctioned platforms such as Kraken, Gemini, and Gate.io. Meanwhile, OKX and Bitstamp have submitted plans to exit the Indian market. #ETFvsBTC
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Nigeria Should Regulate Crypto Trading Platforms, IMF Report Says “Staff recommends that global crypto trading platforms be registered or licensed in Nigeria and subject to the same regulatory requirements applicable to financial intermediaries following the principle of same activity, same risk, and same regulation,” the report read. Nigeria has been in a financial crisis in recent months, with its once-dominant economy expected to plummet to fourth place on the African continent. Despite the country’s inflation hitting a near 28-year high, the IMF report stated that the country’s currency is beginning to steady. The naira depreciated sharply after the unification of the official foreign exchange windows in June 2023,” the IMF noted. “Following monetary policy tightening in February and March 2024 and a resumption of FX interventions, the naira has started to stabilize.” Binance Executives Detained Amid Nigerian Crypto Crackdown Nigeria has been cracking down on digital assets recently. In the coming days, the country will ban peer-to-peer payment systems in hopes of preventing manipulation. Some government officials have shifted the blame for the naira’s weakening to cryptocurrencies, with Nigerian Central Bank Governor Olayemi Cardoso alleging in February that $26 billion worth of illicit funds shuffled through Binance Nigeria in 2023 alone.  “We are concerned that certain practices that go on that indicate illicit flows through a number of these entities and suspicious flows at best,” Cardoso said. “In the case of Binance, $26 billion has passed through Binance Nigeria from sources and users we cannot adequately identify.” Concerns have swirled over the country’s arrest of two Binance executives, Nadeem Anjarwalla and Tigran Gambaryan, on money laundering and tax evasion charges in over the crypto exchange’s operations. Both Anjwarwalla and Gambaryan were in the country for policy meetings with regulators amidst tensions with the African nation. #ETFvsBTC
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Jack Dorsey’s $1M Bitcoin Forecast Faces Regulatory and Market Challenges Jack Dorsey, the co-founder and former CEO of Twitter, has made a bold prediction that Bitcoin will reach at least $1 million by 2030. This forecast coincides with his recent departure from the decentralized platform BlueSky, motivated by shifts away from its original vision of true decentralization. Simultaneously, Dorsey’s fintech enterprise, Block, faces regulatory scrutiny, impacting its services like Square and Cash App. Despite these challenges, Bitcoin shows robustness in the market, maintaining a price of around $61,000. While Dorsey remains optimistic about Bitcoin’s potential, the ongoing regulatory pressures and market uncertainties continue to pose significant challenges Bold Prediction: Jack Dorsey foresees Bitcoin reaching $1 million by 2030 Regulatory Scrutiny: Block, including Square and Cash App, under compliance review Bitcoin Prediction Today, Bitcoin is priced at $60,620, witnessing a decline of around 4% within the last 24 hours. Bitcoin price prediction seems bearish as BTC is holding below $60,975. Above this pivot, immediate resistance levels are observed at $63,400, followed by $65,050, and extending to $67,160, which may challenge further upward movements Conversely, support levels are marked distinctly, beginning at $59,075 and subsequent support at $56,640 and $54,400 Technical indicators reflect a cautious outlook; the Relative Strength Index (RSI) stands at 38, indicating a potential overselling scenario. The 50-day Exponential Moving Average (EMA) is positioned at $62,325, providing a reference point for current price actions Bitcoin’s recent market behaviour shows a bearish engulfing pattern on the 4-hour chart, breaching the upward trendline at $60,975. This breakdown suggests potential downward pressure, targeting the immediate support level at $59,075 Conclusion: Bitcoin’s current market stance is bearish, below the $60,975 threshold. A decisive move above this level could, however, pivot towards a bullish trend #ETFvsBTC
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